Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1218 NW Lake St Newport, OR 97365

    Sponsored
    For Sale
    $650,000

    MULTI_FAMILY - Newport, OR

    Days on Market:
    15
    Last Refresh:
    Feb 19 at 10:06 pm

    Property Features for 1218 NW Lake St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R-2
    Rooms
    Bedroom 3, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 5, Bedroom 1, Bedroom 4, Bedroom 6, Bedroom 2, Bedroom 7
    Bedrooms
    7
    APN
    R361500

    Building Details

    Year built
    1969
    Floors in Building
    1
    Number of units
    3
    Roof type
    Shingle

    We can help!

    Listing Contact
    Dustin Miller

    Kelly Right Real Estate of Portland (509) 489-7000

    Listing agent Dustin Miller (503) 719-6056

    Listing date Feb 5, 2026

    MLS# 597429344

    Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Newport Multifamily Home Near Ocean

    This multifamily home is located two blocks from the ocean. The property features three units and has a coastal feel. Two of the units have been recently remodeled, and the exterior has fresh paint. All units are currently leased, providing immediate income. The property is located in a desirable location and offers a strong rental history and long-term potential. The zoning is R-2.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newport
    County
    Lincoln
    State
    Oregon
    Longitude
    -124.056614
    Latitude
    44.645826

    Nearby Similar for Sale

    • $2,950,000
      21,400 SF

      Yaquina Bay Commercial Landmark

      Commercial property with vessel haul outs on Yaquina Bay.
      5262 Yaquina Bay Rd, Newport, OR 97365
      View Details
    • $1,400,000
      0.19 Acres

      Newport 10-Unit Apartment Complex

      Well-maintained 10-unit apartment complex in the heart of Newport.
      166 NE 8Th St, Newport, OR 97365
      View Details
    • $2,375,000
      6,505 SF

      Turnkey Restaurant and Retail Investment

      Fully equipped restaurant, parking lot, and leased storefronts near beach.
      426 NW Coast St, Newport, OR 97365
      View Details
    • $108,000
      0.06 Acres

      RV Lot in Pacific Shores Resort

      RV lot with amenities and beach access in Newport, Oregon.
      6225 N Coast Hwy, Newport, OR 97365
      View Details
    • $575,000
      2,606 SF

      Historic Nye Beach Commercial Building

      Commercial building in Historic Nye Beach with additional lot.
      727 NW 3Rd St, Newport, OR 97365
      View Details
    • $150,000

      Turnkey Pizza Restaurant in Newport

      Fully equipped pizza restaurant for sale in Newport, Oregon.
      130 NW 19Th St, Newport, OR 97365
      View Details
    • Contact for pricing

      Embarcadero Marina Boat Slip

      Privately owned 24' boat slip on Yaquina Bay.
      1000 SE Bay Blvd, Newport, OR 97365
      View Details
    • $599,000
      0.24 Acres

      Waterfront Property on Historic Bayfront

      Prime real estate on Newport's historic Bayfront with amazing views.
      837-855 SW Bay Blvd, Newport, OR 97365
      View Details
    • $496,000
      1,998 SF

      Highway 101 Office Space

      Usable office space with deeded and off-street parking.
      1112 SW Coast Hwy, Newport, OR 97365
      View Details
    • $579,000
      2,295 SF

      Newport Commercial Building with Views

      Commercial building in high-traffic area with ocean views.
      242 W Olive St, Newport, OR 97365
      View Details
    • $579,000

      Commercial Building with Ocean Views

      Newport commercial building in high-traffic area with ocean views.
      242 W Olive St, Newport, OR 97365
      View Details
    • $599,000
      8,344 SF

      Newport Retail Investment Opportunity

      High-Visibility Hwy 101 Retail Building
      Newport, OR 97365
      View Details

    FAQs

    What type of property is this?
    Triplex - Three-unit property near the ocean with immediate income potential.
    Where is this triplex located?
    The property is located at 1218 NW Lake St Newport, OR.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: - Two blocks from the ocean; - Three-unit property with immediate income; - Two units recently remodeled
    (503) 927-0181
    Request Owner's contact information
    1218 NW Lake St Newport, OR 97365
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1218 NW Lake St
    Newport, OR 97365
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1218 NW Lake St Newport, OR 97365
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Dustin Miller
    (503) 927-0181 (503) 719-6056
    Learn more
    Google sign-in failed. Please try again or use another login method.